Category Archives: Estate Planning
Florida Estate Planning & Charitable Contributions
A trust is a very common estate planning instrument for people from all walks of life, but what many are unaware of is that there are many different types of trusts. The most common kind is the revocable or living trust, which is usually established by those who have assets they wish to go… Read More »
Making Sure Your Florida Will Is Valid
When a person decides to write their will, they will often have many, many questions. For many, the first will be about the format in which a will must be written if it is going to be declared valid by Florida courts. This has been a particularly relevant question in the midst of the… Read More »
Altering Your Estate Plan After Divorce
Data from the Centers for Disease Control (CDC) show that there were approximately 750,000 divorces concluded in 2019 (the most recent available data). Given how complex and distasteful many divorces wind up being, it is easy to forget that certain aspects of your estate plan must be altered after your divorce is final. Florida… Read More »
Florida Asset Protection Plans
When one is planning their estate, it is common to worry about whether creditors will be able to “reach” your assets and prevent them from going to your heirs as you wish. While obviously, attempting to outright conceal assets is patently illegal, it is perfectly acceptable to try and protect your assets in ways… Read More »
Decoding Florida’s Homestead Exemption
Florida has a reputation as a very debtor and taxpayer-friendly state, and one of the main reasons why is its homestead exemption. A homestead exemption can shield the homeowner from heavy property taxes, as well as protecting it from creditors and probate in the event of a bankruptcy or a death in the family…. Read More »
“Florida-fying” Your Estate Plan
Once you have officially made the choice to move to Florida, and have put down roots in the community, your next step should be to evaluate any estate planning choices you have made, and make sure they comply with Florida law. For some documents, you may not need to make any major changes, but… Read More »
Potential Trust Pitfalls For New Floridians
It is generally a good idea for new Floridians to have any previous estate planning reviewed by a Florida attorney, so as to ensure that it complies with state law. In particular, wills and trusts will need extensive vetting in order to be certain that every detail has been addressed. Errors or issues with… Read More »
Will A New Wealth Tax Affect Floridians?
On March 1, three members of Congress unveiled what they called the Ultra-Millionaire Tax (UMT), intended to “create a fairer economy.” Sen. Elizabeth Warren (D-Mass), Rep. Pramila Jayapal (D-WA-07), and Rep. Brendan Boyle (D-PA-02) unveiled their plan, intending a 2 percent annual tax on the net worth of households and trusts valued between $50… Read More »
Using A Personal Property Memorandum In Estate Planning
When someone passes away, it is likely that they have estate planning documents that specify how they want their valuable property to be disbursed among their heirs. However, it is far too common for people to neglect their personal items, any of which may have great sentimental value to the members of their family,… Read More »
Supplemental Needs Trusts Under Florida Law
Being disabled in the United States can be difficult, particularly financially. Families with disabled children often wind up between the proverbial rock and a hard place in terms of providing for them in the long-term, especially if the disabled person receives Supplemental Security Income (SSI) – SSI imposes a $2,000 asset limit on every… Read More »